Called Oculus Go, the new VR headset is set to launch early next year and won't require a PC or mobile device to run. Designed to be as affordable and accessible as possible the lightweight VR solution will cost $199 USD and feature a fast-switch LCD display with 2560x1440 resolution, integrated audio, and "next-gen" lenses.

The announcement came via Facebook CEO Mark Zuckerberg at the Oculus Connect event in San Jose.

As an all-in-one VR solution we're definitely keen to see how it performs with existing VR software and games. Oculus Go will be made available to Australians at the $199 USD price when it launches next year.

In other Oculus news, the price for the high-end Oculus Rift headset and Touch controller bundle has received a permanent $100 USD price drop, coming down to $399 USD. Which makes it a few hundred bucks cheaper than the HTC Vive at $599 USD.